Archive for transparency

TheCompensators* are a non-profit organisation according to German law (e.V.) Every three years, the tax office of Berlin checks our financial statements to ensure that our activities are of common public interest and that our accounts match with all legal requirements. The office now has confirmed once again our status – please see the newest legal document (in German).

Due to changes in the European Union Emissions Trading Scheme, for too much time we have not been able to delete pollution rights from our account. (Of course, we had always kept them in the account, which is to the market as if they had been deleted – however we love the act of symbolically deleting them!)

Now finally we have fully restored our access to the account and have been able to delete in two steps respectively 300 and 500 emissions certificates from the ETS!

What exactly do TheCompensators* do? Why? How are they organized? How do they work? What are the expectations for the future of the organization?

During an intensive weekend meeting, we asked ourselves these questions again – because we believe that the work of an association such as ours must always be questioned over and over again! The result we came up with is a detailed concept paper, in which we answer all of the questions given above.

Since the creation of TheCompensators* in 2006, we have fought to reduce carbon emissions in Europe and thus prevent climate change. Since our beginnings, we have found more and more people who want to become members or that would like to support us with donations.

It is now cheaper to compensate your emissions! TheCompensators* do not have to pay anymore VAT on the pollution rights they are buying and deleting. We have received these good news from our tax office.

The reason is that there has been a recent change to emissions trading. Until now our broker had to pay VAT for emissions certificates. This is why we always had to add the taxes on the current emissions price. From now on, it is up to the buyer of EUAs to pay VAT – hence theoretically us. But as we are a non-profit organisation, we are exempt from paying the tax!

In a few words: We have got to pay around 20% less for emissions rights! Thus, compensating is becoming a lot less expensive for everyone of you. This does also mean that spending the same amount of money we can take away a lot more emissions rights from industry.

Due to this change in legislation we also have got more money left to delete pollution rights. As for a long time it was not clear if we had to pay VAT, we had always put aside money to pay the taxes. Now we can now use this amount to buy and delete more EUAs!

In 2011, TheCompensators* once again offered their members and supporters the opportunity to offer climate protection as a present. This initiative was welcomed by many of you and TheCompensators* were able to delete emissions certificates worth 30 tonnes of CO2. Have a look at the confirmation of transaction.

Our contribution to go back to 350ppm on the 350 Climate Action Day, October 24th, 2009.

We can report that, with your help during our recent actions, we have been able to purchase and today delete 287 EUAs, which bring us to the total amount of 350 EUAs deleted since this Summer. Please have a look at the transaction Transaction voucher DE-83615 here.

We can report that we have finally, after a long wait, been able to purchase and delete 215 EUAs as of today. The register now provides data export, so please have a look at our transaction list (including the ones from 2007) here.